KARACHI: Rousch (Pakistan) Power Ltd (RPPL), an independent power producer (IPP), has approved the early termination of its power purchase agreement (PPA) with the government.

The company has authorised its management to execute a negotiated settlement agreement.

This development was shared by Altern Energy Ltd, the parent company of RPPL, in a stock filing on Wednesday.

The major terms of the negotiated settlement agreement are to terminate the PPA, which was scheduled to expire in 2032, with effect from Oct 1. Receivables agreed between the parties as of Sept 30 will be paid by Central Power Purchasing Agency by Dec 31 and RPPL will hand over the complex to the government.

Published in Dawn, November 14th, 2024